Democrats...how do you like paying for the bailout of the automakers?

Looks like the Democrat congress is voting for us taxpayers to pay for the automaker's lack of ability to run make money. Congress is acting like it's our fault for them continuing to make huge SUVs when they seen gas prices rising. Why should we taxpayers pay to bailout their bad bad decision making?

6 Answers

the automakers employ many americans and if they go under we are in a world of trouble, did you see where citibank is laying off 75,000 employees?? they will all try to collect unemployment if we add in the automakers where is the govt supposed to get this money? yes it sucks us taxpayers will have to help but I for one would rather help than be in a depression which is where we are headed. And it wont matter what political party we are in.

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Anonymous

1 decade ago

On one hand, I'd like to see the Big Three go under because they deserve to. The Japanese have been building better cars, and the U.S. automakers have watched their market share slip away while continuing to do the same (READ: Wrong) things that got them in trouble in the first place. On the other hand, roughly 10% of U.S. citizens work for the auto industry either directly or indirectly (suppliers, dealerships, automation controls, etc.), so if the Big Three goes under, the unemployment rate in the U.S. will go over 10%, and that meets the official definition of a depression.

BOTTOM LINE: It's the little guy that's going to be hurt the worst if the auto industry folds, and the $25 billion payout may end up looking like chump-change to the American taxpayer in comparison to the damage done if the Big Three fail. What I would like to see is a bailout package that has some strings attached, for example: (1) No bonuses for anyone until they show a continuous profit for at least a year, (2) New rules that would require them to give EVERYONE a bonus when they become profitable -- not just the greedy execs, (3) No more wasteful spending on company cars for middle-level managers and higher -- let them live in the real world and have to buy their cars like the rest of us, (4) Renegotiation of UAW contracts -- yep, they have to shoulder their share of the blame for the state the auto industry is currently in, and (5) Pay cuts for all execs -- I think half is about good...

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Anonymous

1 decade ago

It was congress telling the auto makers what types of cars they needed to build in the first place. Look at GM, buick is the leading car sold in China and GM is doing pretty good in Europe, why are they doing so poorly in America?

The expense side made it impossible for US auto manufactures to make money off of small cars, but due to CAFE standards, they were forced to sell cars at a lose. They make money off of trucks and SUV's.

The unions and management kept agreeing to escalating benefits that took affect into the future, just to keep labor peace. The cost have caught up. I say remove all of the regulations placed on the US auto manufactures and they can turn it around. But for now, they want the money and will accept more govt involvement even tho it will make things worse in the long run.

The auto industry has always spent money like it was a never ending commodity. Those days are gone. Most parts for American cars are made in other countries now, at lower wages, and they still claim poverty. Japanese manufacturers are building plants here and making money. What doe's that tell you. The UAW has already stated they would not accept less than they get now. This is one time that I agree with the Republicans.

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Nobody wants to see American workers laid off, but bailing out companies is only a band-aid approach and is a waste of money. The reason why American car companies are not making money is mismanagement. Giving money to irresponsible companies will only encourage them to continue to be irresponsible. WE are going to hurt from this bailout. Our gov't is going broke, so why are we bailout the auto industry?

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Anonymous

1 decade ago

Democrats love it its what they do !!! Democrats BUY VOTES using other peoples money !! This is not a buy out of an industry this is a payoff to the Democrats Union VOTING BLOCK !! The UAW!!